Wealthsimple is one of the most popular investing apps in Canada thanks to its commission-free stock trading, beginner-friendly interface, and easy TFSA investing accounts.
In this Wealthsimple review, we examine:
- fees
- investing features
- TFSA and RRSP accounts
- ETF investing
- pros and cons
- whether Wealthsimple is worth using in 2026
What Is Wealthsimple?
Wealthsimple is a Canadian financial platform offering:
- self-directed investing
- managed portfolios
- crypto trading
- cash accounts
- commission-free Canadian stock trading
The platform is especially popular among beginner investors looking for a simple way to start investing.
Wealthsimple Fees
One of Wealthsimple’s biggest advantages is commission-free Canadian stock and ETF trading.
However, investors should still understand:
- currency conversion fees
- premium account costs
- spread costs on crypto
Compared to traditional Canadian banks, Wealthsimple remains significantly cheaper for most retail investors.
TFSA and RRSP Investing
Wealthsimple supports:
- TFSA accounts
- RRSP accounts
- FHSA accounts
- taxable investing accounts
Opening a TFSA through Wealthsimple is extremely simple and beginner friendly.
You can also read our TFSA Investing Guide to learn how tax-free investing works in Canada.
Wealthsimple Pros
Commission-Free Trading
Canadian stock and ETF trades are commission free.
Beginner-Friendly App
The mobile app is one of the easiest investing apps to use in Canada.
Fractional Shares
Investors can buy partial shares of many popular companies.
Automated Investing
Managed portfolios are available for passive investors.
Wealthsimple Cons
FX Fees
Currency conversion fees may become expensive for active U.S. stock traders.
Limited Advanced Trading Tools
Professional traders may find the platform too basic.
Limited Research Tools
Research features are weaker than some competitors.
Wealthsimple vs Questrade
Wealthsimple is generally better for beginners and passive investors.
Questrade may be a stronger option for:
- ETF investors
- advanced investors
- active portfolio management
Is Wealthsimple Safe?
Yes. Wealthsimple is regulated in Canada and client accounts are protected through Canadian investment industry protections.
The platform is widely considered safe for Canadian investors.
Who Should Use Wealthsimple?
Wealthsimple is best for:
- beginner investors
- long-term investors
- TFSA investing
- passive ETF investing
- mobile-first users
Final Verdict
Wealthsimple remains one of the best investing apps in Canada for beginners in 2026. Its commission-free structure, modern app design, and easy account setup make it an excellent choice for Canadians starting their investing journey.
Advanced investors may eventually prefer platforms with lower FX fees and more sophisticated tools, but for most beginners, Wealthsimple is a strong starting point.
FAQ
Is Wealthsimple good for beginners?
Yes. Wealthsimple is one of the best investing apps in Canada for beginners.
Does Wealthsimple charge trading fees?
Canadian stock and ETF trades are commission free, although FX fees still apply for U.S. stocks.
Can Canadians open a TFSA on Wealthsimple?
Yes. Wealthsimple supports TFSA, RRSP, FHSA, and taxable investing accounts.
Is Wealthsimple safe in Canada?
Yes. Wealthsimple is regulated and considered safe for Canadian investors.
